请教高人：CIBC Mortgage Cash Back Offer是不是很好？

caifan

刚刚打电话给CIBC问 cash back offer的详情，大致如下：
( l; Q! e0 y$ i% S5 n: x
1。三年固定利率3.3%, cash back 2%;
2。五年固定利率3.99%, cash back 2%.
6 I+ K4 k' I1 k7 N$ r7 |3。按照银行网站，五年固定利率5.39%, cash back 5%
. C( E7 K5 Z/ o9 D3 k+ H" ?" s
3 Z1 O1 T6 {0 q另，做mortgage transfer, 而不是refinance, 银行可以支付lawyer's fee。
感觉选择3最值。各位高人有何高见？

caifan

4 X/ M4 `# e% G
1 C" G/ \2 l. {& e8 ycibc的人好像是这么给我推算的：
* `; z6 z( ?2 t" f* ?6 Q
2%现金返还三年期，相当于每年2/3=0.67%的折扣，3.3-0.67=实际利率2.63%
, h+ A5 R  T* L2%现金返还五年期，相当于每年2/5=0.4%的折扣，3.99-0.4=实际利率3.59%
' f4 o3 k+ G) \  E# S
) Q4 O& A7 m" Q7 Y$ H$ `按他的算法，5%现金返还五年期，相当于每年5/5=1%的折扣，5.39-1=实际利率4.39%，不是特别好。
9 q8 N3 I0 s. E9 z$ R7 T9 P
4 B3 Q  l) @7 b. @) y: s  R4 C我觉得他的算法不精确，好像是假定你会把cash back花掉。如果把cash back马上用于还贷，整个的贷款额就降低了，所以cash back越高越好。

Pierce.CIBC

Let's say a customer wants to transfer $400,000 mortgage to CIBC. He has 2 options.
$ z8 S6 s3 R2 n1.   3-year closed mortage with 3.3% and 3% cash back.
2.   5-year closed mortgage with posted rate 5.39% and 5% cash back

$ n. b+ {4 t" c; pOption 1. After 3% cash back, your mortgage amount will become $400,000*0.97=$388,000 with 3.3% interest
( C3 y2 G5 l2 N7 H% f, UIf you want to payoff your mortgage in 25 years. Monthly PMT $1896.44. The remaining balance is $356,393 after 3 years.

Option 2. After  5% cash back, your mortgage amount will become
- Q- v# i& ]% _4 H( ?( V5 U  }0 f$400,000*0.95=$380,000 with 5.39% interest.
* o9 p  ^5 k7 y, A4 n8 m5 V8 cIf you want to payoff your mortagge in 25years. Monthly PMT 2295.21  The remaining balance will be $356,351.50 after 3 years
' m( `3 C+ [2 E" G
Basically, for the above options, after 3 years, the mortgage remaining balance is similiar.
) `4 g/ f' L7 z7 }2 O% h4 iIf you choose the 2% cash back with 3.3%, every month you save about $398.77 monthly payment for 3 years.  Total roughly saving ($398.77*12*3=$14,355)

诺言

能确认一下把mortgage从别的银行转到CIBC，CIBC负担全部律师的费用吗？

caifan

3# Pierce.CIBC
谢谢回复！我后来用网上的贷款计算器算了一下，五年选择5%的返还和5.39% 的posted rate确实不划算，主要因为5.39实在太高了。

caifan

用网上的贷款计算器计算，五年固定利率3.99%, cash back 2%比起现在单纯的五年固定利率3.59%要划算一些。

Rapala

问一个问题，如果是投资房，cashback算收入要交税吗？

caifan

银行网站说：
( O& N& c5 B; J/ s4 _The Cash back amount is tax free as long as the funds are not used to earn income from a business or property.

Pierce.CIBC

4# 诺言

5 z" E7 `1 A3 o) L2 JThere is no fee/cost to transfer your mortgage

tyyjohn

任何时间都可以转吗？  还是要等5年满了才能转？

诺言

4# 诺言
, w/ N8 g/ }. N! P, ]2 Y
: ~* U2 X) `/ cThere is no fee/cost to transfer your mortgage
( G' U9 \& R; f3 B! n/ B: sPierce.CIBC 发表于 2010-3-4 14:26

6 I) r0 V2 v' ?/ i但是Title上面的mortgagee不是需要改吗？这个过程不需要律师吗？

Pierce.CIBC

CIBC got free AD from Globe&Mail
+ G" J8 o% i( X7 T, ]! t! X3 {
https://secure.globeadvisor.com/ ... /cnw/20100305/C7106

caifan

据我的重新计算，五年固定3.99% 加上2 % 现金返还大致相当于3.50%，这是相当不错的了。

) \# I8 [, U3 B% s" l居然有一位mortgage broker能给这个rate，但是prepayment是5%，不是我想要的 10%。

诺言

“In addition, there are no transfer-in fees for clients to move their mortgage to CIBC.”
' i" n: y; ]% `0 l! i这句话并没有解答new mortgage是否需要律师involve去land title office注册的问题啊？

caifan

“In addition, there are no transfer-in fees for clients to move their mortgage to CIBC.”
, f/ f$ a' J% Z  y" o! \6 |8 p* {* c这句话并没有解答new mortgage是否需要律师involve去land title office注册的问题啊？
诺言 发表于 2010-3-11 11:41

这个我也问清楚了。我的mortgage broker读了fine print，说你想让银行代付律师和登记费，就得放弃现金返还，当然没有人会那样做。为此他可以另外给我一些现金返还，足够支付相关费用。他说这部分现金返还是他本人用自己积累的点数支付的，与cibc的offer无关。

诺言

这个我也问清楚了。我的mortgage broker读了fine print，说你想让银行代付律师和登记费，就得放弃现金返还，当然没有人会那样做。为此他可以另外给我一些现金返还，足够支付相关费用。他说这部分现金返还是他本人用 ...
1 w  K" }$ \- t; ccaifan 发表于 2010-3-11 11:59

2 i" M: v8 g2 ^& b0 W9 a  q是实实在在的现金返还吗？我看一直没正面回答，感觉有点问题。

Pierce.CIBC

14# 诺言


, @; K5 X) e* f3 T* R4 F& `6 }& I当您把mortgage转过来，cibc会给您mortgage注册，不需要花钱。

Pierce.CIBC

16# 诺言

6 f" M0 c" P1 P. m! q1 @, |
; p/ T, }/ h, P! I0 V+ `1 Z是free money,直接打到您的银行帐号。